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Anglican Super is accusing AMP Limited of being unreasonable because it has sought to suspend the fund’s successor fund transfer to Mercer citing COVID-19 market volatility.
Respondents to a Money Management survey have pointed to the mislabelling of industry fund’s investment options and the absence of enough advice around switching to cash.
The message from advisers to clients is ‘don’t crystallise your losses’, while the message from a Money Management survey of advisers to the Australian Securities and Investments Commission is to be facilitative and lenient through the COVID-19 crisis.
It appears the timing of the Government’s changes to insurance inside superannuation could not have come at a worse time.
Confronted by almost record levels of inquiries to call centres, superannuation fund executives have again canvassed extending the scope of intra-fund advice.
